The 24-month CD requires a minimum opening deposit of $1k, with no stated balance cap. This is a limited-time offer, but no specific end-date has been set. According to an extremely helpful CSR, the Early Withdrawal Penalty is nine months interest.

The Money Market Account requires a minimum opening deposit of $2.5k. Account balances up to $500k will earn the stated APY, with balances above $500k earning 0.75% APY. This is also a limited-time offer, end-date unknown

Thanks to the DA reader, Carpline, who mentioned these deals in a Forum post.

Availability

Headquartered in Tuscaloosa, Alabama, Capstone Bank offers its product line to Alabama residents, with eight branches located in the western part of the state, but these two specials are being advertised as available only at new Fairhope branch. CSR stated that residents of Baldwin and Mobile Counties were welcome to open an account at the new branch location.

I called a couple of the other branch locations to see if the 24-month CD/MMA specials were being offered bank-wide; they’re not, but it was suggested that these rates might be offered if requested. Bottom line, it doesn’t hurt to ask.

A grand opening and ribbon cutting ceremony for the new Fairhope branch is scheduled for tomorrow (October 4) at 4 p.m.

Bank Overview

Capstone Bank (FDIC Certificate # 22769) has an overall health grade of "A" at DepositAccounts.com, with a Texas ratio of 10.13% (excellent), based on June 30, 2016 data. In the past year, Capstone Bank has increased its total assets by $25.4 million, an excellent annual growth rate of 6.69% Please refer to our financial overview of Capstone Bank for more details.

Capstone Bank was established in 1978 as the Washington County State Bank. In the next 30 years, the Bank underwent a reorganization, changed its name twice, moved its headquarters, and acquired the Tuscaloosa based Security Bank. Capstone Bank is currently Alabama’s 21st largest bank, with assets in excess of $469 million.

How the CD Compares

When compared to the 196 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and available to residents of Lower Alabama, Capstone Bank’s 24-month CD APY currently ranks fourth.

How the Money Market Compares

When compared to the 182 Money Market Accounts tracked by DepositAccounts.com that are available to residents of Lower Alabama, Capstone Bank’s Money Market Account APY currently ranks fourth.

The above rates are accurate as of 10/3/2016.

To search for the best CD rates, both nationwide and state specific, please refer to the CD rates section of DepositAccounts.com or our Rates Map page.